This week’s newcomer is a banking company with Louisiana roots:
Investar Holding (ISTR – proposed) is a Baton Rouge, Louisiana-based bank holding company formed in 2006. Investar offers a wide range of commercial banking products tailored to meet the needs of individuals and small to medium-sized businesses. In addition to its Baton Rouge headquarters, the bank offers services from nine other full-service branches throughout the state. (For more information, please click here: Investar Holding)
The deal is expected to be priced Monday evening, June 30, to start trading Tuesday, July 1st. This kicks off the second half of 2014.
First Six Months of 2014
Let’s take a look back at the first half of this year.
On Friday, June 27, 2014:
IPOs priced: 142
Average gain: 18.3 percent.
NADSAQ Composite Index: UP 5.3 percent
(The IPO numbers are according to the U.S. Securities and Exchange Commission filings. Excluded are unit offerings consisting of common stock and warrants, closed-end investment companies, bank conversions and foreign companies offering American Depositary Shares that represent shares of stock already trading on their local stock exchanges.)
The Hero – 2014 Mid-year:
Enerous (WATT) is a Baton Rouge, Louisiana-based development stage technology company working to develop technology that can enable wireless charging or powering of electronic devices at a distance. On March 27, 2014, the company priced its IPO of 4 million shares at $6 each. It closed Friday, June 27 at $15.50, UP 158.3 percent from its initial offering price.
The Goat – 2014 Mid-year:
NephroGenex (NRX) is a Research Triangle Park, North Carolina-based pharmaceutical company focused on the development of therapeutics to treat kidney disease. On Feb. 10, 2014, the company priced its IPO of 3.1 million shares at $12 each. It closed Friday at $5.95, DOWN 50.4 percent from its initial offering price.
2013’s First Half in Review
Now let’s take a look further back to 2013’s first half.
On Friday, June 28, 2013:
IPOs priced: 91
Average gain: 23.7 percent.
NADSAQ Composite Index: UP 12.7 percent
The Hero – 2013 Mid-year:
ExOne (XONE) is a North Huntingdon, Pennsylvania-based provider of three-dimensional printing machines and printed products to industrial customers. On Feb. 6, 2013, the company priced its IPO of 5.3 million shares at $18 each. It closed Friday, June 28, 2013, at $61.72, UP 242.9 percent from its initial offering price. Fast forward to Friday, June 27, 2014, ExOne closed at $37.59, DOWN 39.1 percent from a year ago, but UP 108.8 percent from its initial offering price.
The Goat – 2013 Mid-year:
Professional Diversity Network (IPDN) is a Chicago-based provider of online networks serving diverse professionals in the United States The company focuses on Hispanic and African-American professionals. On March 5, 2013, the company priced its IPO of 8 million shares at $8 each. It closed Friday, June 28, 2013, at $4.19, DOWN 47.6 percent from its initial offering price. Fast forward to Friday, June 27, 2014, it closed at $4, DOWN 50 percent from a year ago.
Looking into the week of July 7, the calendar has only one IPO. But anything could happen. July will still be young.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.